The Year the European Crisis Ended Erik Jones

ISBN: 9781306849395

Published: August 6th 2014

ebook

144 pages


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The Year the European Crisis Ended  by  Erik Jones

The Year the European Crisis Ended by Erik Jones
August 6th 2014 | ebook | PDF, EPUB, FB2, DjVu, audiobook, mp3, ZIP | 144 pages | ISBN: 9781306849395 | 8.24 Mb

The European crisis came to an end when first political leaders and then the European Central Bank promised to do whatever it takes to safeguard the euro. Specifically they committed to create a European banking union and to buy unlimited amounts ofMoreThe European crisis came to an end when first political leaders and then the European Central Bank promised to do whatever it takes to safeguard the euro. Specifically they committed to create a European banking union and to buy unlimited amounts of sovereign debt in distressed markets for governments that made a binding commitment to reform.

Markets were initially sceptical and yet ultimately persuaded by the commitment of European elites. Events in Italy and Cyprus threatened to return Europe to crisis and yet were ultimately managed without major turmoil. Somehow along the way, however, the desire of European elites to do whatever is necessary began to waver and their commitment to banking union diminished.

The European crisis has ended but Europe is not yet resilient enough to ensure that it will not recur.



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